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MARK IV REPORTS RECORD SALES AND INCOME FROM OPERATIONS IN FISCAL YEAR AND FOURTH QUARTER

 MARK IV REPORTS RECORD SALES AND INCOME
 FROM OPERATIONS IN FISCAL YEAR AND FOURTH QUARTER
 AMHERST, N.Y., March 31 /PRNewswire/ -- Mark IV Industries, Inc. (NYSE: IV) today reported record sales and earnings from operations for the fiscal year ended Feb. 29, 1992. Income before special items and related earnings per share, adjusted for the company's recently announced 3-for-2 stock split to be paid on April 1, 1992, increased to $32.4 million and $1.02, up 33 percent and 10 percent, respectively, from $24.3 million and 93 cents last year, on a fully-diluted basis. Sales reached a record $1.146 billion in fiscal 1992, up 22 percent from $937.3 million last year.
 All share-related amounts are reported on a fully-diluted basis, and reflect adjustments for all previous stock dividends and splits, including the company's recently announced 3-for-2 stock split to be paid to holders of record as of March 10, 1992.
 Special items related primarily to early debt extinguishment and debt conversion resulted in charges of $6.0 million, or 18 cents per share this year, vs. gains of $1.3 million, or 5 cents per share last year. These special items reduced net income to $26.4 million, up 3 percent from $25.6 million last year. The weighted average number of shares outstanding increased 15 percent in fiscal 1992, to 33.1 million from 28.8 million, primarily due to a 7.33 million share stock offering completed in August 1991, conversion of the company's 7 percent convertible debentures into 6.76 million shares of stock during the year, and the issuance of $114.3 million of 6-1/4 percent convertible subordinated debentures in February 1992.
 Sal H. Alfiero, Mark IV's chairman, said, "Fiscal 1992 was a year of significant progress. Financially, we made major strides in strengthening the company's balance sheet -- reducing long-term debt by $192 million, increasing shareholders' equity 81 percent to $321 million, and improving the company's ratio of debt-to-total-capital from 80 percent to 62 percent. In effect, despite a severe recession and completion of three small acquisitions totaling $28 million in purchase price, which added to our core businesses, we have essentially achieved our first debt reduction goal, and are closing in on our second goal of obtaining a better than 50 percent debt to total capital ratio.
 "Operationally, Mark IV's performance was driven primarily by improvements in the company's core businesses. Despite difficult economic conditions, margins improved in our Power Transfer and Fluid Handling business; the Mass Transit and Traffic Control group enjoyed record sales and earnings; and the Professional Audio group performed steadily in the face of a worldwide recession in its market.
 "Our focus on cost reductions prior to the beginning of the fiscal year, and on cost containment during the year, played a major role in the improved earnings of our businesses. This operating performance, coupled with increased sales and a significant reduction in the annual rate of our interest expense, helped to generate Mark IV's record net results before special items for fiscal 1992."
 In the fourth quarter, income before special items was $7.7 million, up 64 percent from $4.7 million in the final quarter of fiscal 1991. Related earnings per share for the period rose 11 percent, to 21 cents from 19 cents last year, while sales increased 8 percent, to $286.1 million from $263.8 million.
 Special items in the fourth quarter of fiscal 1992 amounted to charges of $4.2 million, primarily from early debt extinguishment. This had the effect of reducing net income to $3.5 million, or 10 cents per share, down 26 percent from last year's $4.7 million, or 19 cents per share. There were no extraordinary items affecting net income in last year's fourth quarter.
 Mark IV Industries, Inc., headquartered in the Buffalo suburb of Amherst, N.Y., is a diversified manufacturer of products and systems in three core businesses: Professional Audio; Power Transfer and Fluid Handling; and Mass Transit and Traffic Control.
 MARK IV INDUSTRIES, INC.
 (Amounts in thousands, except per share data)
 Year ended Three months ended
 last day of February last day of February
 1992 1991 1992 1991
 Sales $1,145,600 $937,300 $286,100 $263,800
 Operating
 income (a) $120,600 $105,200 $27,000 $26,000
 Operating income,
 net of interest
 expense $49,500 $37,600 $11,600 $7,300
 Income before
 securities
 transactions
 and extraordinary
 items $32,400 $24,300 $7,700 $4,700
 Gain (loss) on
 securities
 transactions (b) ($1,500) $600 ($500) $---
 Extraordinary
 items (c) ($4,500) $700 ($3,700) $---
 Net income $26,400 $25,600 $3,500 $4,700
 Fully-diluted
 earnings per
 share (d):
 Income before
 securities
 transactions $1.02 $.93 $.21 $.19
 Securities
 transactions (.05) .02 (.01) ---
 Income before
 extraordinary
 items .97 .95 .20 .19
 Extraordinary
 items (.13) .03 (.10) ---
 Net income $.84 $.98 $.10 $.19
 Fully-diluted weighted
 average number
 of shares
 outstanding (d) 33,135 28,811 37,862 28,425
 (a) Represents income before interest expense, securities transactions and taxes.
 (b) The loss in the year ended Feb. 29, 1992, includes an after-tax expense of $1.4 million related to the conversion of the company's 7 percent convertible subordinated debentures.
 (c) The extraordinary items in the periods ended the last day of February 1992 and 1991, are related to the early extinguishment of debt, and are presented net of related tax effects.
 (d) Adjusted to reflect the company's 5 percent stock dividends distributed in July 1990 and April 1991, and the 3-for-2 stock split to be distributed April 1, 1992, as if such distributions had been made on March 1, 1990, the beginning of fiscal 1991.
 -0- 3/31/92
 /CONTACT: Sharlene Vogler of Mark IV Industries, Inc., 716-689-4972/
 (IV) CO: Mark IV Industries, Inc. ST: New York IN: SU: ERN


KK -- CL004 -- 3223 03/31/92 08:30 EST
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Date:Mar 31, 1992
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